The south-central province of Phu Yen is on the radar of many local and foreign investors.

Phu Yen Investment Promotion Conference was a resounding success

Nguyen Thanh Hung, deputy chairman of Vietjet, told Phu Yen Investment Promotion Conference 2018 organised this morning that in the year ahead the firm is planning to invest about VND4 trillion into constructing a terminal at Phu Yen’s Tuy Hoa Airport.

“We will expand Vietjet’s operations in Phu Yen province, where industry, tourism, and agriculture are strongly developing,” said Hung. “We will also implement resort and agricultural projects in the province.”

Do Chi Hieu, a representative from Vinacapital, also told the conference that Vinacapial is interested in energy and tourism-oriented property projects in Phu Yen.

Meanwhile, Thai Huong, chairwoman of TH Group, said that the group is planning to invest hundreds of millions of US dollars in the province, to capitalise on the ideal climatic conditions for agricultural projects.

Yesterday, TH Group begun construction of its hi-tech dairy farm in the south-central city of Phu Yen.

The project’s VND1.151 trillion ($52.32 million) first stage is implemented in Son Dinh commune in Son Hoa district. It covers 82 hectares of land.

Tourism is one of the focuses of new investment and research projects

At the conference, 14 local and foreign enterprises were granted investment certificates and in-principle approvals for their 17 investment projects, with a total capital of VND12.369 trillion ($562.23 million—see box for details).

In addition, the provincial government also granted permissions for firms to conduct surveys and research on 11 projects worth over VND58.1 trillion ($2.64 billion). These projects are focused on the sectors of tourism, renewable energy, petrol, and transportation.

“We are seeing a surge in investment into Phu Yen,” said Prime Minister Nguyen Xuan Phuc at the conference, “including TH true MILK, Vinacapital, KCP, and Tien Thanh, among many others. New investments will further contribute to the socioeconomic development of Phu Yen in particular and the country in general. Phu Yen boasts great potential in property, banking, energy, as well as fisheries and agriculture, and the province’s investment attraction will improve.”

PM Phuc also asked Isao Ijima, special advisor of the Japanese prime minister’s cabinet who was attending the conference, to help Vietnam and Phu Yen to develop in the fisheries sector.

“Phu Yen is famous for its tuna products, and we would like to receive support from Japanese experts,” Phuc said. “We also want to attract more Japanese investment to this sector.”

According to the Phu Yen provincial People’s Committee, during 2011-2017, 284 projects were invested, including 19 foreign-invested projects, with the total registered capitals of $4.744 billion and VND28.67 trillion ($1.3 billion). The projects focus on the sectors of industry ($4.13 billion); trade and services ($1.73 billion); and agriculture (over $182 million).

Hoang Van Tra, Chairman of the Phu Yen People’s Committee, promised investors that that the provincial authorities will continue creating the best conditions to all investors.

“You are all welcome here to receive great incentives in land, tax, and especially very favourable administrative procedures,” Tra said.